Stock Market Today: Nasdaq Nears New High After Nvidia Earnings
Global stock markets rallied after the chipmaker's impressive financial results and guidance.


Stocks took their cues from a sizzling overnight session for the Japanese equities market and a red-hot post-earnings rally for Nvidia (NVDA). Indeed, the main benchmarks soared up the charts Thursday, with two of the three notching new record closes.
There were two main catalysts that sparked today's broad-market rally. One was the overnight move in Japan's stock market, with the Nikkei hitting a fresh record high for the first time since December 1989.
"The Nikkei has been buoyed by another wave of excitement for the prospects for the tech sector," says Susannah Streeter, head of money and markets at Hargreaves Lansdown, adding that a weaker yen has helped boost exporters including Toyota, Honda and Sony.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The index's "performance has also been boosted by corporate governance reforms to make businesses more accountable to shareholders which appear to have enthused investors, including Warren Buffett who has been bullish towards Japanese stocks," Streeter adds.
Nvidia soars on impressive Q4 results
The other main driver of Thursday's price action was Nvidia's blowout earnings report. The chipmaker's results were one of the most highly anticipated of the earnings season given its pole position in the generative AI (artificial intelligence) space, and it did not disappoint.
For its fourth quarter, Nvidia reported earnings of $5.16 per share, up from 88 cents per share in the year-ago period. Revenue jumped to $22.1 billion from last year's $6.1 billion as data center revenue quadrupled.
What's more, the company is calling for first-quarter revenue of $24.0 billion, a remarkable improvement over the $6.5 billion in revenue it reported in the year-ago period.
"This last year, we've seen a generative AI really becoming a whole new application space, a whole new way of doing computing, a whole new industry is being formed and that's driving our growth," said Nvidia CEO Jensen Huang in the company's earnings call.
NVDA stock surged 16.4%, adding $277 billion to its market capitalization – the most ever added by a company in a single session. To put that figure in perspective, it is more than the entire market cap of Dow Jones stock Coca-Cola (KO, -0.2%) or streaming giant Netflix (NFLX, +2.6%).
AMD adds $28 billion in market value after Nvidia earnings
Nvidia's earnings report had a halo effect on other chip stocks. Advanced Micro Devices (AMD), for one, jumped 10.7%, gaining $28 billion in market value along the way. Arm Holdings (ARM, +4.2%), Broadcom (AVGO, +6.3%) and Taiwan Semiconductor Manufacturing (TSM, +3.0%) were also notable gainers.
As for the indexes, both the Dow Jones Industrial Average (+1.2% at 39,069) and the S&P 500 (+2.1% at 5,087) finished at record closes. The Nasdaq Composite climbed 3.0% to 16,041, and is now within striking distance of its closing peak of 16,057.44 set in November 2021.
Related content
- Toyota Recalls More than 300,000 Vehicles: What To Know
- Why Is Walmart Splitting Its Stock?
- AT&T Working to Restore Service Amid Network Outage: What to Know
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Abu Dhabi Adventures: New Thrills, Iconic Sights and Disney’s Latest Park
Discover the mix of culture, wildlife and modern marvels that make this Middle Eastern city a destination to watch.
-
4 Money Habits Boomers Swore By That Millennials Are Walking Away From
Millennials are trading tradition for flexibility when it comes to building wealth.
-
How Much Do I Need to Retire? A Financial Professional Breaks Down Your Options
What it all boils down to is will you be comfortable in retirement? Some people may rely on formulas, while others just aim for $1 million nest egg.
-
Despite Our Grumbles, America Still Delivers on the Dream: Perspective From a Financial Pro Who's Seen Stuff
Some of us might complain about the state of our nation (and those concerns are legit), but America still offers unparalleled opportunities and mobility that many people around the world only dream about.
-
Dow Rips 846 Points to New All-Time High: Stock Market Today
Fed Chair Jerome Powell seems ready to cut interest rates in the fall but will still rely on incoming economic data about inflation and employment.
-
Bonds Pay in Good and Bad Times
Bonds can act as a financial safety net through good times and bad. But different bonds carry different returns and risks, so do your homework before investing.
-
When You Need Capital Quickly, Think 'Ready, Set, Fund': A Financial Adviser's Strategy
Investors must be able to free up cash to meet short-term needs from time to time. This strategy will help you access capital without derailing your long-term goals.
-
I'm an Estate Planner: Moving Family Assets to a Safe Haven Abroad Could Be a Huge Headache for Your Heirs
In troubled times like these, wealthy clients may seek financial refuge outside of the U.S. But that could cause more tax and estate problems than it solves.
-
S&P 500 Extends Losing Streak Ahead of Powell Speech: Stock Market Today
Stocks continued to struggle ahead of Fed Chair Powell's Friday morning speech at Jackson Hole.
-
A Timeline of Warren Buffett's Life and Berkshire Hathaway
Buffett was the face of Berkshire Hathaway for 60 years. Here's a timeline of how he built the sprawling holding company and its outperforming equity portfolio.